Sun Communities Inc (NYSE:SUI) Director Arthur A. Weiss bought 257,179 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average price of $117.84 per share, with a total value of $30,305,973.36. Following the transaction, the director now directly owns 29,156 shares in the company, valued at $3,435,743.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

NYSE SUI traded up $0.25 on Thursday, reaching $117.61. The company’s stock had a trading volume of 265,148 shares, compared to its average volume of 351,017. Sun Communities Inc has a twelve month low of $88.30 and a twelve month high of $121.28. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.00 and a beta of 0.31.

Get Sun Communities alerts:

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.92). Sun Communities had a net margin of 9.87% and a return on equity of 3.78%. The business had revenue of $274.00 million during the quarter, compared to analyst estimates of $287.90 million. During the same period in the previous year, the company posted $0.98 earnings per share. Sun Communities’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sun Communities Inc will post 4.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.55%. This is an increase from Sun Communities’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, March 28th. Sun Communities’s dividend payout ratio is presently 62.01%.

A number of hedge funds and other institutional investors have recently modified their holdings of SUI. First Trust Advisors LP lifted its holdings in Sun Communities by 75.3% in the 3rd quarter. First Trust Advisors LP now owns 39,157 shares of the real estate investment trust’s stock valued at $3,976,000 after acquiring an additional 16,818 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Sun Communities during the third quarter valued at about $162,000. US Bancorp DE lifted its stake in Sun Communities by 13.4% during the third quarter. US Bancorp DE now owns 11,151 shares of the real estate investment trust’s stock valued at $1,132,000 after buying an additional 1,318 shares in the last quarter. Comerica Bank lifted its stake in Sun Communities by 165.4% during the third quarter. Comerica Bank now owns 20,756 shares of the real estate investment trust’s stock valued at $2,055,000 after buying an additional 12,935 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Sun Communities by 0.7% during the third quarter. Wells Fargo & Company MN now owns 532,429 shares of the real estate investment trust’s stock valued at $54,062,000 after buying an additional 3,604 shares in the last quarter. 93.48% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Citigroup set a $110.00 target price on shares of Sun Communities and gave the company a “hold” rating in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Sun Communities currently has an average rating of “Hold” and a consensus target price of $108.50.

TRADEMARK VIOLATION WARNING: This news story was posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://dakotafinancialnews.com/2019/03/14/sun-communities-inc-sui-director-arthur-a-weiss-buys-257179-shares.html.

Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.